Published on : May 13, 2021
Albany, New York, May 13, 2021 : The artificial intelligence (AI) in drug discovery market expects to observe a sparkling growth rate throughout the forecast period of 2020-2026 owing to the race for finding an efficient vaccine to tackle the deadly COVID-19 outbreak. AI is slowly penetrating deep in the healthcare industry through its widespread use across various subsectors. The use of artificial intelligence (AI) in drug discovery is inviting tremendous growth through acceleration in the process of the drug discovery process. Mankind across the globe is severely affected by the advent of viruses and other diseases. An efficient vaccine or drug can save many lives and bring a ray of hope among the people suffering from various diseases and disorders due to the unavailability of a vaccine.
Based on type, the artificial intelligence (AI) in drug discovery market can be segmented into services and software. The artificial intelligence (AI) in drug discovery market has its presence across various applications such as pharmaceutical and biotechnology companies, research centers, academic and government institutes, and contract research organizations. This report titled ‘Global Artificial Intelligence (AI) In Drug Discovery Market Size, Status And Forecast 2020-2026’ focuses on various parameters of growth linked to the artificial intelligence (AI) in drug discovery market.
The report on the artificial intelligence (AI) in drug discovery market offers in-depth analysis through considerable research across various parameters such as competitive landscape, key trends, and current scenario. This report also focuses thoroughly on the ongoing COVID-19 pandemic and its effect on artificial intelligence (AI) in drug discovery market. The report will prove as a boon for the business owners and market shareholders in this sector to a large extent.
A good amount of hard work and mental energy goes into the research and development activities related to drug and vaccine discovery. A lot of candidate therapies do not work and get stuck between phase 1 trials and regulatory approvals due to not understanding its efficacy in the first step. This is when artificial intelligence comes into the picture. It helps to identify the problems and the loopholes in the drug discovery process, eventually saving the precious time of the researchers and scientists. Therefore, this aspect accelerates the growth rate of artificial intelligence (AI) in drug discovery market.
SARS-CoV-2 has brought tremendous human and economic loss to the globe and continues to create havoc. To fight the novel coronavirus, the global populace needs to be armed with an efficient vaccine. The vaccine needs to be found in a short period to stop the speedy multiplication of infected patients. AI in drug discovery can surely be of great help. Many key players are embracing AI for discovering an efficient vaccine or drug for COVID-19.
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For instance, the research and development arm of Tech Mahindra, Makers Lab, is making use of AI to find potential drugs or vaccines for COVID-19 treatment. In another development, researchers have created an AI platform known as IDentif.AI to improve the pace of COVID-19 drug discovery. This platform identifies various suitable drug regimens out of billions of possible combinations. This leads to time-saving and concentration on more important drugs. Thus, these developments can invite good growth for the artificial intelligence (AI) in drug discovery market.
Collaborations and partnerships may positively influence the growth rate of the artificial intelligence (AI) in drug discovery market. The partnership of SRI International and Exscientia, an artificial intelligence (AI) drug discovery organization to start discovering selective molecules for a high-value oncology target is a classic example. The collaboration will combine Exscientia’s Centaur Chemist AI platform with SRI’s SynFini synthetic chemistry system to accelerate the oncology drug discovery process.